Foreign ownership as a neglected factor in regions’ smart specialisation exports
Abstract
A region can internationalise in various ways. The question is what type of internationalisation at regional level can be regarded as “smart” and what role should be played in it by foreign owned entities (FOEs)? The paper aims at identifying the role played by FOEs in NUTS-2 smart specialisations’ (SS’s) internationalisation through exports. With the use of a set of PCSE regressions, the paper depicts the role of FOEs in creating SS-compliant exports against the background of their influence on total regional exports. The obtained results proved the positive role of FOEs in regional exports per se and SS-compliant exports. Yet, FOEs differed substantially, as compared to indigenous entities, in terms of product/regional specialisation and technological advancement. The findings imply the importance of FOEs’ embeddedness in regions’ economies and possibility of their incorporation in creating or enhancing regional comparative advantages. The paper contributes by: (i) providing empirical verification of one of the aspects of SS strategy which is exports and establishing comprehensive insight into the evaluation of SS, (ii) depicting the role of FOEs in generating SS-compliant exports, (iii) proposing a set of measures to be used in the extended empirical evaluation of SS consequences in the sphere of exports.
Keyword : smart specialisation, regional trade, export, export intensity, evaluation, trade, FDI, S3
How to Cite
Nazarczuk, J. M., Umiński, S., & Jurkiewicz, T. (2020). Foreign ownership as a neglected factor in regions’ smart specialisation exports. Journal of Business Economics and Management, 21(3), 826-850. https://doi.org/10.3846/jbem.2020.12425
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Brodzicki, T., & Umiński, S. (2017b). Zapotrzebowanie pracodawców na kompetencje pracowników w kontekście rozwoju społeczno-gospodarczego województwa pomorskiego. Pomorskie obserwatorium rynku pracy (grudzień), 1–113.
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Chang, S.-J., Chung, J., & Jungbien Moon, J. (2013). When do foreign subsidiaries outperform local firms? Journal of International Business Studies, 44(8), 853–860. https://doi.org/10.1057/jibs.2013.35
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Dziemianowicz, W., Łukomska, J., & Ambroziak, A. A. (2018). Location factors in foreign direct investment at the local level: The case of Poland. Regional Studies, 53(8), 1183–1192. https://doi.org/10.1080/00343404.2018.1530750
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Foray, D. (2019). In response to “Six critical questions about smart spezialisation”. European Planning Studies, 27(10), 2066–2078. https://doi.org/10.1080/09654313.2019.1664037
Foray, D., Goddard, J., Goenaga Beldarrain, X., Landabaso, M., McCann, P., Morgan, K., Nauwelaers, C., & Ortega-Argilés, R. (2012). Guide to research and innovation strategies for smart specialisation (RIS 3). Regional policy. Luxembourg: Publications Office of the European Union.
Forsgren, M. (2008). Theories of the multinational firm: A multidimensional creature in the global economy. Edward Elgar.
Gajewski, P., & Tchorek, G. (2017). What drives export performance of firms in Eastern and Western Poland? European Planning Studies, 25(12), 2250–2271. https://doi.org/10.1080/09654313.2017.1355890
Glickman, N. J., & Woodward, D. P. (1989). The new competitors: How foreign investors are changing the the U.S. economy? Basic Books.
Hagemejer, J., & Tyrowicz, J. (2012). Is the effect really so large? Firm-level evidence on the role of FDI in a transition economy. Economics of Transition, 20(2), 195–233. https://doi.org/10.1111/j.1468-0351.2012.00433.x
Hassink, R., & Gong, H. (2019). Six critical questions about smart specialization. European Planning Studies, 27(10), 2049–2065. https://doi.org/10.1080/09654313.2019.1650898
Helpman, E. (1984). A simple theory of international trade with multinational corporations. Journal of Political Economy, 92(3), 451–471. https://doi.org/10.1086/261236
Helpman, E., & Krugman, P. R. (1985). Market structure and foreign trade: Increasing returns, imperfect competition, and the international economy. MIT Press.
Hymer, S. H. (1972). The multinational corporation and the law of uneven development. In J. N. Bhagwati (Ed.), Economics and world order from the 1970’s to the 1990’s (1st ed., pp. 113–140). Free Press; Collier Macmillan.
Iammarino, S., & McCann, P. (2013). Multinationals and economic geography: Location, technology and innovation. Edward Elgar Pub. Ltd. https://doi.org/10.4337/9781781954799
Jensen, C. (2002). Foreign direct investment, industrial restructuring and the upgrading of Polish exports. Applied Economics, 34(2), 207–217. https://doi.org/10.1080/00036840010025641
Jurkiewicz, T., & Umiński, S. (2016). Analysis of factors underpinning export activity of firms in Poland: An analysis of the survey results. In K. Gawlikowska-Hueckel & S. Umiński (Eds.), Analysis of the Polish foreign trade in the light of recent theoretical concepts (pp. 151–165). Scholar Publishing House.
Krammer, S. M. S. (2017). Science, technology, and innovation for economic competitiveness: The role of smart specialization in less-developed countries. Technological Forecasting and Social Change, 123, 95–107. https://doi.org/10.1016/j.techfore.2017.06.028
Leichenko, R. M., & Erickson, R. A. (1997). Foreign direct investment and state export performance. Journal of Regional Science, 37(2), 307–329. https://doi.org/10.1111/0022-4146.00056
Loecker, J. D. (2013). Detecting learning by exporting. American Economic Journal: Microeconomics, 5(3), 1–21. https://doi.org/10.1257/mic.5.3.1
Markusen, J. R. (1984). Multinational, multi-plant economies, and the gains from trade. Journal of International Economics, 16(3–4), 205–226. https://doi.org/10.1016/S0022-1996(84)80001-X
Mayer, T., & Ottaviano, G. I. P. (2008). The happy few: The internationalisation of European firms. Intereconomics, 43(3), 135–148. https://doi.org/10.1007/s10272-008-0247-x
McCann, P., & Ortega-Argilés, R. (2013). Smart specialization, regional growth and applications to European Union Cohesion Policy. Regional Studies, 49(8), 1291–1302. https://doi.org/10.1080/00343404.2013.799769
McCann, P., & Ortega-Argilés, R. (2016). Smart specialisation, entrepreneurship and SMEs: Issues and challenges for a results-oriented EU regional policy. Small Business Economics, 46(4), 537–552. https://doi.org/10.1007/s11187-016-9707-z
Melitz, M. J. (2003). The impact of trade on intra-industry reallocations and aggregate industry productivity. Econometrica, 71(6), 1695–1725. https://doi.org/10.1111/1468-0262.00467
Melitz, M. J., & Redding, S. J. (2014). Heterogeneous firms and trade. In G. Copinath, E. Helpman, & K. Rogoff (Eds.), Handbooks in economics. Handbook of international economics (Vol. 4, pp. 1–54). Amsterdam: North-Holland. https://doi.org/10.1016/B978-0-444-54314-1.00001-X
Ministry of Infrastructure and Development. (2014a). Eastern Poland operational programme 2014– 2020. Warsaw.
Ministry of Infrastructure and Development. (2014b). Intelligent development operational programme. Warsaw.
Mudambi, R., Li, L., Ma, X., Makino, S., Qian, G., & Boschma, R. (2018). Zoom in, zoom out: Geographic scale and multinational activity. Journal of International Business Studies, 49(8), 929–941. https://doi.org/10.1057/s41267-018-0158-4
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